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ASIA STOCKS: Asian Equities Mixed, Chinese Tech Stocks Rally, NFP Later

ASIA STOCKS
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  • Asian equities are trading mixed today, with Chinese tech stocks leading gains, while Japan and South Korea faced selling pressure. The Hang Seng Tech Index surged 2.8%, entering a technical bull market, as optimism over DeepSeek’s AI advancements fueled buying in China’s internet firms. The CSI 300 rose 1.6%, and the Hang Seng gained 1.3%, supported by ETF inflows and hopes for further stimulus.
  • Japan’s Nikkei is 0.4% lower, while the TOPIX is 0.50% lower, pressured by a stronger yen following hawkish Bank of Japan comments on interest rates. South Korea’s Kospi declined 0.55%, with Samsung & SK Hynix both trading lower. Taiwan’s Taiex (+0.4%) and Australia’s ASX 200 remained stable, while Indonesia’s JCI is 2.1% lower to be the worst performing market.
  • Market sentiment remains cautious ahead of US nonfarm payrolls, expected to show 175,000 new jobs. A strong reading could dampen Fed rate-cut hopes, while a weak print may raise concerns about US economic momentum. Treasuries were steady, while gold and oil edged higher.
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  • Asian equities are trading mixed today, with Chinese tech stocks leading gains, while Japan and South Korea faced selling pressure. The Hang Seng Tech Index surged 2.8%, entering a technical bull market, as optimism over DeepSeek’s AI advancements fueled buying in China’s internet firms. The CSI 300 rose 1.6%, and the Hang Seng gained 1.3%, supported by ETF inflows and hopes for further stimulus.
  • Japan’s Nikkei is 0.4% lower, while the TOPIX is 0.50% lower, pressured by a stronger yen following hawkish Bank of Japan comments on interest rates. South Korea’s Kospi declined 0.55%, with Samsung & SK Hynix both trading lower. Taiwan’s Taiex (+0.4%) and Australia’s ASX 200 remained stable, while Indonesia’s JCI is 2.1% lower to be the worst performing market.
  • Market sentiment remains cautious ahead of US nonfarm payrolls, expected to show 175,000 new jobs. A strong reading could dampen Fed rate-cut hopes, while a weak print may raise concerns about US economic momentum. Treasuries were steady, while gold and oil edged higher.